Global Coworking Space Management Software Market Insights Forecasts to 2032

• The Global Coworking Space Management Software Market Size was valued at USD 532.46 Million in 2022.
• The Market Size is Growing at a CAGR of 9.69% from 2022 to 2032
• The Worldwide Coworking Space Management Software Market Size is expected to reach USD 1342.11 Million by 2032
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Coworking Space Management Software Market Size is expected to reach USD 1342.11 Million by 2032, at a CAGR of 9.69% during the forecast period 2022 to 2032.

A coworking space is an arrangement in which workers from various companies and freelancers share an office space that is convenient and allows cost savings through the use of common infrastructure, such as equipment, wifi and utilities, cleaning services, and occasionally coffee refreshments and mail services. However, managing a shared workspace can be difficult if the proper tools are not used. It is appealing to independent contractors, independent scientists, telecommuting larger work teams that want flexibility and to avoid wasted real estate space if some employees work from home, work-at-home professionals, and people who travel frequently. Furthermore, coworking eliminates distractions and helps workers avoid the feeling of isolation that they may experience while telecommuting, travelling, or working at home alone. Moreover, it essentially provides IoT-enabled software for coworking spaces and offices that will help to fully automate day-to-day tasks, eliminating the need for manual tracking, increasing revenue by empowering with important data and process automation, and providing them with unparalleled control over the centres at any time. Coworking space management software has several advantages, including the ability to maximize team productivity, improve member experience, provide all-in-one solutions, sophisticated scalable technology, and keep track of important data.

Driving Factors

Growing demand for flexible offices, increased adoption of IoT-enabled software, and solo entrepreneurs' increased need for social interaction are driving the growth of the Coworking Space Management Software Market. Because of advanced technology, such as the availability of software that is directly connected to the office environment, there is a growing trend towards remote working. For instance, OfficeRND is a coworking space platform that provides an exceptional digital experience by automating administrative tasks such as multi-location management, real-time reports, and payment and billing automation. Furthermore, the number of people working from home or remotely, as well as the development of sustainable coworking spaces, are the major factors driving the growth of the co-working space market. Coworking space management software provides a flexible solution for many businesses and professionals looking for alternatives to traditional workspaces. The COVID-19 pandemic has accelerated the shift to remote work, making co-working spaces a preferred option for individuals and businesses. Furthermore, an increase in the number of start-ups and freelancers is regarded as an important factor in boosting the co-working space management software market growth.

Restraining Factors

Lack of awareness and privacy concerns may hamper market growth. Many projects in businesses require complete confidentiality, and coworkers are extremely concerned about security and confidentiality. Coworking space management software can be vulnerable to hacking because the consumer is afraid that someone will steal their valuable information, which will hamper the market's growth.    

Market Segmentation

By Type Insights

The cloud-based segment dominates the market with the largest revenue share over the forecast period.

Based on type, the global coworking space management software market is segmented into cloud-based and on-premise. Among these, the cloud-based segment is dominating the market with the largest revenue share over the forecast period. The popularity of small businesses and startups, the rising need for flexible workspaces, and the trend of startups seeking out informal coworking spaces. Cloud-based software is typically delivered over the Internet and can be accessed by users from anywhere at any time. Unlike on-premises software requires only the installation of an application or a web browser to access its services.

By Organization Size Insights

The SME segment is witnessing significant CAGR growth over the forecast period.

Based on organization size, the global coworking space management software market is segmented into large enterprises and SMEs. Among these, the SME segment is witnessing significant growth over the forecast period. The largest market share as a result of the growing trend of startups and entrepreneurs with fewer than 50 employees who can save up to 25-30% on rental costs, as well as the increased demand for low-cost flexible coworking spaces. Growing investments in niche coworking spaces, such as women-only spaces, LGBTQ+ spaces, and other social groups, are expected to provide lucrative opportunities as they become more popular to accommodate the growing diversity in SMEs.

By Application Insights

The membership management segment is expected to hold the largest share of the global coworking space management software market during the forecast period.

Based on the application, the global coworking space management software market is classified into membership management, booking management, billing and payment management, reporting and analytics, access control, community management and others. Among these, the membership management, segment is expected to hold the largest share of the coworking space management software market during the forecast period. Membership management tools are used by businesses to manage member information such as contact information, transaction history, activities, events, and payment due dates, as well as payment processing, reporting, and subscription management such factors will boost market growth during forecast period.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with the largest market share over the forecast period. To maintain its lead throughout the forecast period as the number of solo entrepreneurs and micro SME grows, technological development accelerates, and the need for socialising grows in this region. Flexibility in their careers, flexible hours, fun and casual work environments, and result-oriented work policies that allow them to choose their workplace as long as they deliver the work are all benefits. The number of millennials starting businesses and choosing non-traditional work has increased, which has opened new doors for co-working spaces and expanded the coworking space management software market growth in North America.

Asia Pacific is expected to grow the fastest during the forecast period. The low costs and flexibility in working space, many businesses have shifted to coworking spaces. The number of co-working spaces is rapidly increasing in China and Japan. This is due to the increased number of start-ups and the desire for employees and businesses to have more freedom. Coworking space management software are a more affordable alternative to traditional office spaces. The majority of mainland Chinese landlords are likely to enter Hong Kong's flexible working space, which has traditionally been dominated by local and international investors because it provides a low-risk entry point into the broader office market.

List of Key Market Players

• Nexudus
• Andcards
• Optix
• Cobot
• Yardi Kube
• OfficeRnD
• Satellite Deskworks
• Share Desk Global Inc.
• Upstream- Agile Gmbh
• Wun systems

Key Market Developments

• In October 2023, Blue Star Innovation Partners made a strategic investment in OfficeRnD, a leading innovator in coworking and hybrid work software.

• In February 2022, LiquidSpace and OfficeRnD announced a Global Partnership to Meet Growing Hybrid Workplace Demand

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global coworking space management software market based on the below-mentioned segments:

Coworking Space Management Software Market, Type Analysis

• Cloud-Based
• On-Premise

Coworking Space Management Software Market, Organization Size Analysis

• Large Enterprises
• SME

Coworking Space Management Software Market, Application Analysis

• Membership management
• booking management
• Billing and payment management
• Reporting and analytics
• Access control
• Community management
• Other

Coworking Space Management Software Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa